Crestmark secured a total of $13,585,000 in ABL financial solutions for eight new clients; Crestmark Equipment Finance provided $13,412,118 in seven new lease transactions and Crestmark Vendor Finance provided $3,151,862 in 51 new lease transactions in the second half of October.
Brief details of the ABL transactions are:
- $2 million accounts receivable purchase facility to a trucking company in Arizona for working capital purposes
- $1 million ledgered line of credit to a trucking company in California to pay off an existing lender and for working capital purposes
- $400,000 accounts receivable purchase facility to a startup trucking company in California for working capital purposes
- $4 million asset-based line of credit facility to a designer and distributor of women’s shoes in Missouri to pay off an existing lender and for working capital purposes.
- $4 million accounts receivable purchase facility to an oil and gas services trucking company in Texas to pay off an existing lender and for working capital purposes
- $150,000 accounts receivable purchase facility to a trucking company in Alabama for working capital purposes.
- $35,000 accounts receivable purchase facility to a trucking company in Texas for working capital purposes
- $2 million asset-based line of credit facility to a metal processing company in Michigan to pay off an existing lender and for working capital purposes
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